[GNC] Book keeping/accounting of club project funds
Stephen M. Butler
kg7je at arrl.net
Thu May 2 19:53:16 EDT 2019
On 5/2/19 3:18 PM, Roderick Anderson wrote:
> Cryptic enough? :-)
>
> How should I make entries for club project funds.
>
> I am the treasurer for a small 501(c)(3). Our income is mainly
> memberships (dues), cash donations, and an annual swap meet like event.
>
> First off I have almost no experience in accounting and mostly
> on-the-job learning. I inherited a Quick Books system that I imported
> into GNUCash. I've made some modifications to that account structure.
>
> I am using three Asset accounts. Checking, Savings, and Petty cash.
>
> I've been asked to track the funding(?) for the clubs main project,
> HAM radio repeaters. We paid for them out of checking. Some of it
> before I became treasurer.
> We are now needing to enhance those systems so we've asked for
> donations specifically for this purpose - a Repeater fund.
>
> So when the funds come in how do I book them? That the right term?
> Previously I just deposited the funds to checking. And we used them
> as needed though there wasn't enough in the fund so the rest came out
> of the checking asset.
>
> I'd appreciate any suggestions on how to handle this?
>
>
> TIA,
> Rod
In addition to the other suggestions, I'd look to having sub-accounts
under checking and set flags such that checking includes the
sub-accounts in a roll-up accounting. With sub-accounts you could break
out the funds held in the checking account for the purposes for which
the funds have been reserved.
Have fun and 73.
--KG7JE
--
Stephen M Butler, PMP, PSM
Stephen.M.Butler51 at gmail.com
kg7je at arrl.net
253-350-0166
-------------------------------------------
GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8
More information about the gnucash-user
mailing list